2003 (11) TMI 503

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..... the Respondent. [Order per : Jyoti Balasundaram, Member (J)]. The applicants seek waiver of pre-deposit of penalty of Rs. 8 lakhs imposed upon the importer and Rs. 2 lakhs upon its Managing Director. Penalties have been imposed for the reason that M/s. Vipin Enterprises undervalued Zinc Ingots imported by them in December, 1998 - they declared unit price of US $ 510 PMT totaling Rs. 28, .....

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..... the fact that the purity of zinc imported contemporaneously by M/s. Jindal Iron and Steel Company was 99.97% which is the same purity of the zinc imported by the applicants herein and therefore, the Commissioner has correctly concluded that the zinc imported by both the importers was identical and has hence correctly loaded the value at approximately US $ 1500 PMT. 4. On hearing both sides, we n .....

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..... stay recovery thereof, pending the appeals. 5. Although, the applicants seek waiver of pre-deposit of differential duty, in the absence of any material on record to show that the goods have been cleared on payment of duty and that the goods are not in the control of the Customs authorities, we do not pass any order for waiver of pre-deposit of duty, having regard to the language of Section 129E .....

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